morpeth

The tax reductions as I understand have three reasons for also including the better off : (1) prior tax cuts under Kennedy and Reagan did result in higher economic growth ( I question however with the level of the deficit whether the tax rates on the wealthy will have the same effect this time) (2) extra spending will help economic growth so economy needs 'shot in the arm' ( I have similar question as (1) for this one (3) reduced corporate rate may result in American companies bringing home cash parked overseas, and attract foreign investment ( I think this is true though to what degree we have to see ) (4) by increasing the internal rate of return on investments, reducing the corporate tax rate should have a tendency to increase long term corporate investment - this is obviously true except companies have become enamored with stock buybacks vs investing n long term projects.

Sad thing is without cuts in spending, even if this cut generates half as much growth as some project, the deficit and debt still is enormous - and the poor and working poor remain in dire straits in many parts of the country.

Though I guess some analysis is in order on the details, if the state tax reduction is reduced doesn't this reduce the effect to some degree of the reduction in income tax on the upper brackets ?

caretaker

People have been working overtime on analysis.
https://www.theatlantic.com/business...erseas/547916/

dave_j

I don't know whether US corporate attitudes have changed in the past 20 years or so but years ago, they were a joke where I worked.

As a design engineer we maintained a database of relevant installations worldwide and it was always an issue when we got an enquiry from a US company. The assets they had were at least 20-30 years out of date and generations behind the most recent designs. The major reason behind this appeared to be a perceived notion that having a buoyant economy and a supportive US centric culture, there was not felt to be a need to invest in new plant, simply adopt a patch up and mend mentality since this was generally the cheaper, although short sighted, option. Since then these facilities have closed having become ever more uneconomic.

If corporate views have remained much as they were, and these profit centric attitudes remain in the forefront, then these tax cuts will do little to drag the US economy into the 20th century.

BristolUK

Other than being a little under dressed does this happen in Canada?
(pretend it's not the mail)
Pre-Christmas Mad Friday celebrations go too far in Leeds | Daily Mail Online

Partially discharged

No. Not from my experience. I honestly think Canadians don't binge drink like people in the UK. Some on this forum will chirp in that Canadians drink and drive too much which may be true as public transit in many areas isn't a good option and people foolishly take a risk that they won't get caught.

The cold at this time of year doesn't help for brawling in the streets fighting over somebody who wouldn't even make it on Geordie Shore. Plus I think that post work drinks with your co-workers isn't as big a deal as in the UK as many people drive to work and many people work in business parks and office buildings that don't lend themselves for post work drinking sessions.

BristolUK

A few years ago there was a fight downtown here that went viral. Pretty nasty but then on the same youtube page were examples of far worse from the UK.

I'm not downtown a lot at night but when I have been there I've never seen anything but people having fun, whereas back in Bristol I was always glad to get away before anything kicked off and we used to arrange it so our last pub was right on the edge of town.

morpeth

I was referring to what effect is of reducing income taxes on the wealthy while at same time reducing deductions for sales taxes.

The article quoted doesn't seem to consider the different rules for foreign operations whether income is associated with operations, or simply booked in tax havens. Jobs have gone abroad for various reasons including just regulatory burden, but it isn't too clear what the writer considers tax havens or if the writer is familiar with rules using tax havens such as transfer pricing rules.

Paul_Shepherd

I enjoy and actually miss the pub atmosphere in the UK, but I dont miss any of that....and thats what its like in every city centre in the UK at this time of year. That said some of the pics are pretty funny though - I love the guy with the traffic cone on his head!

lmartin1000

Not worth it.

BristolUK

New year's eve/early hours, four fatal stabbings in London in unrelated incidents, all victims male and 20 or younger.

macadian

Might make Nicola Sturgeons Socialist Republic of Scotland more attractive....

BristolUK

More outsourcing to a company that cannot cope?
The UK government is locked in crunch talks with stricken construction and outsourcing firm Carillion, in a last ditch bid to stave off the collapse of a company responsible for crucial services in schools, hospitals and prisons.

Meanwhile, in another report on the same company but conveniently just before the revelations...

Carillion secretly protected bosses’ £4m bonuses just months before £600m accounting crisis
That was a lucky break wasn't it.

Former Lancastrian

For who the bosses at Carillion or those in Govt circles that were given brown envelopes

BristolUK

Everyone except normal folk.

Novocastrian

Outsourcing critical public sector infrastructure to a private company?

What could go wrong?